Brouky Score · 2026

Top VC Firms in Norway

The 25 highest-scoring venture funds headquartered in Norway, ranked from 46 eligible firms on a 110-point composite of portfolio outcomes, deal volume, risk adjustment and cheque-size fit.

70
Median score / 110
across eligible firms
46
Eligible firms
5+ tracked investments
1,550
Tracked investments
in this market
25
Firms ranked
highest scoring
Sort by
1

FSN Capital

Series C+Norway
Software & Developer ToolsIndustry & HardwareEnergy, Environment & MobilityConsumer, Lifestyle & ServicesCommerce & MarketingFinance & Blockchain+3 more
environmentindustrialsustainabilitydigital-transformationhardwaremobility+3 more

FSN Capital invests in growth-oriented Northern European mid-market companies. They focus on supporting management teams to drive operational improvements and sustainable growth, creating long-term value.

100/ 110Grade A

Investments

55

Portfolio Size

—

Exit Rate

—

Alive

—

Portfolio Status

Not enough tracked outcomes yet

Portfolio Liveness

No alive portfolio to assess

Score Breakdown

Size Fit
15 / 15
Venture Signals
15 / 25
Deal Volume
30 / 30
Portfolio Outcomes
40 / 40
2

Statkraft Ventures

Series BNorway
Energy, Environment & MobilitySoftware & Developer ToolsIndustry & HardwareCommerce & MarketingConsumer, Lifestyle & ServicesArtificial Intelligence & Data+3 more
automotivesustainabilityanalyticsrenewable-energyaienergy-efficiency+3 more

Statkraft Ventures invests in early and growth stage software- and hardware-focused start-ups in energy and climate tech in Europe and North America, with a fund focused on Norway and an international fund covering Europe and North America.

97/ 110Grade A

Investments

40

Portfolio Size

—

Exit Rate

—

Alive

—

Portfolio Status

Not enough tracked outcomes yet

Portfolio Liveness

No alive portfolio to assess

Score Breakdown

Size Fit
15 / 15
Venture Signals
12 / 25
Deal Volume
30 / 30
Portfolio Outcomes
40 / 40
3

Yara Growth Ventures

Series ANorway
Energy, Environment & MobilityFinance & BlockchainIndustry & HardwareSoftware & Developer ToolsConsumer, Lifestyle & Services+2 more
agtechagritechagri-financedigital-lendinghydrogenautonomous-robots+3 more

The team invests in startups and venture capital funds in the food and agriculture industry, focusing on agriculture and clean hydrogen sectors.

97/ 110Grade A

Investments

30

Portfolio Size

—

Exit Rate

—

Alive

—

Portfolio Status

Not enough tracked outcomes yet

Portfolio Liveness

No alive portfolio to assess

Score Breakdown

Size Fit
15 / 15
Venture Signals
12 / 25
Deal Volume
30 / 30
Portfolio Outcomes
40 / 40
4

Equinor Ventures

Corporate VCSeries BNorway
Energy, Environment & MobilitySoftware & Developer ToolsIndustry & HardwareFinance & BlockchainHealthcare & Life SciencesArtificial Intelligence & Data+3 more
energysustainabilitymachine-learninghydrogenenvironmentanalytics+3 more

Invests in companies that can contribute to Equinor's energy transition goals. Focuses on renewable energy, carbon capture, and energy efficiency technologies.

90/ 110Grade A-

Investments

61

Portfolio Size

—

Exit Rate

—

Alive

—

Portfolio Status

Not enough tracked outcomes yet

Portfolio Liveness

No alive portfolio to assess

Score Breakdown

Size Fit
15 / 15
Venture Signals
6 / 25
Deal Volume
30 / 30
Portfolio Outcomes
39 / 40
5

TQ Ventures

SeedNorway
Software & Developer ToolsHealthcare & Life SciencesIndustry & HardwareConsumer, Lifestyle & ServicesFinance & BlockchainCommerce & Marketing+3 more
digital-healthhealthcaremarketingaigenerative-aisales+3 more

TQ Ventures appears to focus on early-stage consumer and healthcare companies, particularly in Norway and Germany. They invest in Series A and later stages.

88/ 110Grade A-

Investments

69

Portfolio Size

—

Exit Rate

—

Alive

—

Portfolio Status

Not enough tracked outcomes yet

Portfolio Liveness

No alive portfolio to assess

Score Breakdown

Size Fit
15 / 15
Venture Signals
6 / 25
Deal Volume
30 / 30
Portfolio Outcomes
37 / 40
6

AURA Ventures

SeedNorway
Software & Developer ToolsFinance & BlockchainCommerce & MarketingIndustry & HardwareConsumer, Lifestyle & ServicesEnergy, Environment & Mobility+3 more
enterpriseflat-roofsgreen-roofscloud-softwaredispatchinginvoicing+3 more

Aura Ventures is an early-stage venture capital firm that invests in technology-enabled companies across Australia and New Zealand. They focus on seed-stage, B2B software companies with global scaling potential, particularly in AI, compliance tech, and logistics.

86/ 110Grade A-

Investments

28

Portfolio Size

—

Exit Rate

—

Alive

—

Portfolio Status

Not enough tracked outcomes yet

Portfolio Liveness

No alive portfolio to assess

Score Breakdown

Size Fit
15 / 15
Venture Signals
12 / 25
Deal Volume
24 / 30
Portfolio Outcomes
35 / 40
7

Idekapital

Series ANorway
Software & Developer ToolsIndustry & HardwareFinance & BlockchainEnergy, Environment & MobilityCommerce & MarketingConsumer, Lifestyle & Services+3 more
digital-paymentssustainabilityautomationconversational-adsinteractive-advertisingprogrammatic-ads+3 more

Idekapital invests in Norwegian companies. They focus on pre-IPO stage companies in sectors like commerce & marketing and industry & hardware.

85/ 110Grade A-

Investments

18

Portfolio Size

—

Exit Rate

—

Alive

—

Portfolio Status

Not enough tracked outcomes yet

Portfolio Liveness

No alive portfolio to assess

Score Breakdown

Size Fit
15 / 15
Venture Signals
15 / 25
Deal Volume
28 / 30
Portfolio Outcomes
27 / 40
8

Hadean Ventures

Series ANorway
Healthcare & Life SciencesSoftware & Developer ToolsIndustry & Hardware
drug-developmentoncologyr-dautoimmune-diseasesprecision-medicineclinical-stage+3 more

Hadean Ventures is a European venture capital fund manager with over EUR 230 million in assets under management. The firm invests across sectors and stages with a strong foundation and track record in life sciences.

84/ 110Grade B+

Investments

31

Portfolio Size

—

Exit Rate

—

Alive

—

Portfolio Status

Not enough tracked outcomes yet

Portfolio Liveness

No alive portfolio to assess

Score Breakdown

Size Fit
15 / 15
Venture Signals
12 / 25
Deal Volume
30 / 30
Portfolio Outcomes
27 / 40
9
Commerce & MarketingSoftware & Developer ToolsEnergy, Environment & Mobility
digital-platformonline-auctionused-vehiclesapplication-securitycloudcloud-security+3 more

Invests in later-stage companies, primarily in the Industry & Hardware sector. Focuses on companies based in Spain.

84/ 110Grade B+

Investments

20

Portfolio Size

—

Exit Rate

—

Alive

—

Portfolio Status

Not enough tracked outcomes yet

Portfolio Liveness

No alive portfolio to assess

Score Breakdown

Size Fit
15 / 15
Venture Signals
16 / 25
Deal Volume
13 / 30
Portfolio Outcomes
40 / 40
10

RunwayFBU

SeedNorway
Software & Developer ToolsIndustry & HardwareConsumer, Lifestyle & ServicesEnergy, Environment & MobilityFinance & Blockchain+2 more
iotconsumercybersecurityenterprise-softwaresecuritybootstrap+3 more

RunwayVC is a venture fund investing in founders shaping industry, from pre-seed to Series A, in Norway and Europe.

82/ 110Grade B+

Investments

29

Portfolio Size

—

Exit Rate

—

Alive

—

Portfolio Status

Not enough tracked outcomes yet

Portfolio Liveness

No alive portfolio to assess

Score Breakdown

Size Fit
15 / 15
Venture Signals
13 / 25
Deal Volume
30 / 30
Portfolio Outcomes
24 / 40
11
Software & Developer ToolsFinance & BlockchainIndustry & HardwareConsumer, Lifestyle & ServicesHealthcare & Life SciencesCommerce & Marketing+3 more
enterpriseautomationdigital-bankingfinancial-servicesfintechanalytics+3 more

Invests in growth-stage software and developer tools companies, primarily B2B. Focuses on companies based in Norway.

82/ 110Grade B+

Investments

27

Portfolio Size

—

Exit Rate

—

Alive

—

Portfolio Status

Not enough tracked outcomes yet

Portfolio Liveness

No alive portfolio to assess

Score Breakdown

Size Fit
15 / 15
Venture Signals
15 / 25
Deal Volume
12 / 30
Portfolio Outcomes
40 / 40
12

Investinor

SeedNorway
Software & Developer ToolsHealthcare & Life SciencesIndustry & HardwareEnergy, Environment & MobilityArtificial Intelligence & DataConsumer, Lifestyle & Services+3 more
aianalyticsautomationbiotechdataenterprise+3 more

Investinor invests primarily in Norwegian startups, focusing on life sciences and innovative technology companies at seed to growth stages. Their aim is to support scalable businesses that contribute to sustainable long-term value creation.

81/ 110Grade B

Investments

116

Portfolio Size

—

Exit Rate

—

Alive

—

Portfolio Status

Not enough tracked outcomes yet

Portfolio Liveness

No alive portfolio to assess

Score Breakdown

Size Fit
15 / 15
Venture Signals
12 / 25
Deal Volume
30 / 30
Portfolio Outcomes
24 / 40
13
Energy, Environment & MobilityIndustry & HardwareArtificial Intelligence & DataCommerce & MarketingConsumer, Lifestyle & ServicesSoftware & Developer Tools+3 more
environmentsustainabilityiotmarine-technologyconsumerenergy+3 more
81/ 110Grade B

Investments

39

Portfolio Size

—

Exit Rate

—

Alive

—

Portfolio Status

Not enough tracked outcomes yet

Portfolio Liveness

No alive portfolio to assess

Score Breakdown

Size Fit
15 / 15
Venture Signals
15 / 25
Deal Volume
30 / 30
Portfolio Outcomes
21 / 40
14
Energy, Environment & MobilityIndustry & HardwareSoftware & Developer Tools
hardwareiotsustainabilityagriculturegpslivestock+3 more

Climate Innovation Capital invests in mid-stage climate technology companies that create the foundation of a decarbonized global economy. They focus on commercially proven, scalable climate technologies that address large-scale inefficiencies, unlock business value, and reduce carbon as a direct outcome.

81/ 110Grade B

Investments

12

Portfolio Size

—

Exit Rate

—

Alive

—

Portfolio Status

Not enough tracked outcomes yet

Portfolio Liveness

No alive portfolio to assess

Score Breakdown

Size Fit
15 / 15
Venture Signals
16 / 25
Deal Volume
23 / 30
Portfolio Outcomes
27 / 40
15

Alliance VC

SeedNorway
Software & Developer ToolsFinance & BlockchainConsumer, Lifestyle & ServicesIndustry & HardwareEnergy, Environment & MobilityCommerce & Marketing+3 more
aienterpriseconsumerautomationdataanalytics+3 more

We invest in exceptional early-stage tech companies founded by entrepreneurs with global ambitions.

79/ 110Grade B

Investments

148

Portfolio Size

—

Exit Rate

—

Alive

—

Portfolio Status

Not enough tracked outcomes yet

Portfolio Liveness

No alive portfolio to assess

Score Breakdown

Size Fit
15 / 15
Venture Signals
0 / 25
Deal Volume
30 / 30
Portfolio Outcomes
34 / 40
16

Viking Growth

Series ANorway
Software & Developer ToolsCommerce & MarketingIndustry & Hardware
aicustomer-experiencesaasemployee-benefitsenterprisescheduling+3 more

Viking Growth invests in Nordic B2B software companies with €2–15M in annual revenue, focusing exclusively on business-to-business software across Norway, Sweden, Denmark, and Finland. The firm provides growth capital, takes board seats, and works hands-on with companies to accelerate international expansion and scaling.

79/ 110Grade B

Investments

30

Portfolio Size

—

Exit Rate

—

Alive

—

Portfolio Status

Not enough tracked outcomes yet

Portfolio Liveness

No alive portfolio to assess

Score Breakdown

Size Fit
15 / 15
Venture Signals
16 / 25
Deal Volume
30 / 30
Portfolio Outcomes
18 / 40
17

Sno Ventures

SeedNorway
Software & Developer ToolsConsumer, Lifestyle & ServicesFinance & BlockchainHealthcare & Life SciencesArtificial Intelligence & DataIndustry & Hardware+3 more
aiautomationartificial-intelligencer-dcollaborationenterprise+3 more

SNÖ Ventures invests in early-stage B2B software companies, primarily in Norway. They focus on innovative solutions within the software and developer tools sectors.

79/ 110Grade B

Investments

28

Portfolio Size

—

Exit Rate

—

Alive

—

Portfolio Status

Not enough tracked outcomes yet

Portfolio Liveness

No alive portfolio to assess

Score Breakdown

Size Fit
15 / 15
Venture Signals
14 / 25
Deal Volume
14 / 30
Portfolio Outcomes
36 / 40
18

Equip Capital

Series C+Norway
Software & Developer ToolsConsumer, Lifestyle & ServicesIndustry & HardwareEnergy, Environment & Mobility+1 more
cloudsustainabilitymanufacturingapplication-securityenterprisethreat-detection+3 more

Equip Capital is a Nordic private equity firm that focuses on investments in small and mid-sized companies. They seek control positions in partnership with entrepreneurs and management teams within the consumer, industrials, and business services sectors.

78/ 110Grade B-

Investments

19

Portfolio Size

—

Exit Rate

—

Alive

—

Portfolio Status

Not enough tracked outcomes yet

Portfolio Liveness

No alive portfolio to assess

Score Breakdown

Size Fit
15 / 15
Venture Signals
16 / 25
Deal Volume
30 / 30
Portfolio Outcomes
17 / 40
19
Software & Developer ToolsEnergy, Environment & MobilityConsumer, Lifestyle & ServicesCommerce & MarketingHealthcare & Life SciencesFinance & Blockchain+3 more
aianalyticsdatadata-managementd2cdelivery+3 more
75/ 110Grade B-

Investments

19

Portfolio Size

—

Exit Rate

—

Alive

—

Portfolio Status

Not enough tracked outcomes yet

Portfolio Liveness

No alive portfolio to assess

Score Breakdown

Size Fit
15 / 15
Venture Signals
14 / 25
Deal Volume
16 / 30
Portfolio Outcomes
30 / 40
20

Investinor AS

Series ANorway
Software & Developer ToolsHealthcare & Life SciencesEnergy, Environment & MobilityIndustry & HardwareConsumer, Lifestyle & ServicesArtificial Intelligence & Data+3 more
biotechconsumer-techsustainabilitydrug-developmentcompliancerobotics+3 more

Investinor AS focuses on accelerating Norwegian and international technology companies with global potential through growth capital in early to growth stages. They invest primarily in sectors with strong innovation and scalability, including energy, industrial tech, and healthtech.

73/ 110Grade C+

Investments

114

Portfolio Size

—

Exit Rate

—

Alive

—

Portfolio Status

Not enough tracked outcomes yet

Portfolio Liveness

No alive portfolio to assess

Score Breakdown

Size Fit
15 / 15
Venture Signals
12 / 25
Deal Volume
30 / 30
Portfolio Outcomes
16 / 40
21

DNV Ventures

Series ANorway
Software & Developer ToolsIndustry & HardwareEnergy, Environment & MobilityHealthcare & Life SciencesCommerce & Marketing+2 more
aienergy-modellingenergy-transitionrenewablessimulation-softwarecompliance+3 more

DNV Ventures is DNV's global investment arm investing globally in B2B software and technology companies solving complex challenges across energy, maritime, cybersecurity, and industrial systems.

73/ 110Grade C+

Investments

47

Portfolio Size

—

Exit Rate

—

Alive

—

Portfolio Status

Not enough tracked outcomes yet

Portfolio Liveness

No alive portfolio to assess

Score Breakdown

Size Fit
15 / 15
Venture Signals
15 / 25
Deal Volume
30 / 30
Portfolio Outcomes
13 / 40
22

Katapult Ocean

Series ANorway
Energy, Environment & MobilitySoftware & Developer ToolsIndustry & HardwareCommerce & MarketingArtificial Intelligence & DataHealthcare & Life Sciences+3 more
sustainabilityclean-energyclimate-techsustainable-materialsaquaculturedeeptech+3 more

Katapult Ocean is a global impact venture fund investing in high-growth companies transforming ocean industries and linked systems. It invests globally from hubs in Oslo, Singapore, and Cape Town, focusing on ocean and climate technology and supporting early-stage ventures through investment and accelerator programs.

71/ 110Grade C

Investments

24

Portfolio Size

—

Exit Rate

—

Alive

—

Portfolio Status

Not enough tracked outcomes yet

Portfolio Liveness

No alive portfolio to assess

Score Breakdown

Size Fit
15 / 15
Venture Signals
16 / 25
Deal Volume
30 / 30
Portfolio Outcomes
10 / 40
23

Wiski Capital

SeedNorway
Software & Developer ToolsIndustry & HardwareEnergy, Environment & MobilityConsumer, Lifestyle & Services+1 more
aibootstrapfrontendui-componentsweb-appcommunity+3 more

Wiski Capital invests in early-stage technology companies in Norway, seeking visionary entrepreneurs with strong execution capabilities. They aim to make a positive difference and actively collaborate with their portfolio companies.

70/ 110Grade C

Investments

20

Portfolio Size

—

Exit Rate

—

Alive

—

Portfolio Status

Not enough tracked outcomes yet

Portfolio Liveness

No alive portfolio to assess

Score Breakdown

Size Fit
15 / 15
Venture Signals
16 / 25
Deal Volume
12 / 30
Portfolio Outcomes
27 / 40
24

Arkwright X

Series ANorway
Software & Developer ToolsConsumer, Lifestyle & ServicesFinance & BlockchainIndustry & HardwareEnergy, Environment & Mobility+2 more
data-analyticsdevopsaisustainabilityexpense-trackingfinancial-planning+3 more

Arkwright X invests in early-stage B2B technology companies in the Nordics from Pre-seed to Series A with initial ticket sizes from 100 kEUR to 2 mEUR.

70/ 110Grade C

Investments

19

Portfolio Size

—

Exit Rate

—

Alive

—

Portfolio Status

Not enough tracked outcomes yet

Portfolio Liveness

No alive portfolio to assess

Score Breakdown

Size Fit
15 / 15
Venture Signals
15 / 25
Deal Volume
30 / 30
Portfolio Outcomes
10 / 40
25

Sarsia

SeedNorway
Healthcare & Life SciencesEnergy, Environment & MobilitySoftware & Developer ToolsIndustry & HardwareArtificial Intelligence & Data+2 more
drug-discoverydrug-developmentanalyticsdatafleet-managementmaritime+3 more

Sarsia is an early-stage venture capital firm investing in Life Sciences focusing on unmet medical needs, and in Technology, Energy and Sustainability sectors primarily in the Nordic countries.

67/ 110Grade C-

Investments

50

Portfolio Size

—

Exit Rate

—

Alive

—

Portfolio Status

Not enough tracked outcomes yet

Portfolio Liveness

No alive portfolio to assess

Score Breakdown

Size Fit
15 / 15
Venture Signals
14 / 25
Deal Volume
30 / 30
Portfolio Outcomes
8 / 40

Methodology

What the score measures, who is eligible, and what it deliberately excludes.

How is the Brouky score for Norway calculated?
Each firm is scored out of 110 points across four measured components: portfolio outcomes (40), deal volume (30), risk adjustment (25) and cheque-size fit (15). The score is computed from tracked investments and portfolio company status. It is not editorial and firms cannot influence it.
Which firms are eligible for the Norway ranking?
Venture and corporate venture funds headquartered in Norway with at least 5 tracked investments. 46 firms qualify; the top 25 are listed. Angel investors, family offices, banks, accelerators and government vehicles are excluded because they are scored on a different basis and are not comparable.
How often is the ranking updated?
Scores are recomputed as new investments and portfolio outcomes are recorded, and this page refreshes daily.
My fund's data looks wrong. Can it be corrected?
Yes. Claim the fund's profile on Brouky to review the underlying investments and portfolio records, and the score updates from the corrected data.

Other rankings

GermanyUnited KingdomFranceNetherlandsSpainSwedenSwitzerlandDenmarkItalyBelgiumFinlandCzech RepublicIrelandRomaniaPolandLuxembourgAustriaEstoniaPortugalUnited StatesIndiaIsraelSingaporeCanadaAustraliaChinaJapanUnited Arab Emirates